Target Co. (NYSE:TGT) to Issue $1.12 Quarterly Dividend

Target Co. (NYSE:TGT) announced a quarterly dividend on Wednesday, January 15th,RTT News reports. Investors of record on Wednesday, February 12th will be given a dividend of 1.12 per share by the retailer on Saturday, March 1st. This represents a $4.48 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, February 12th.

Target has raised its dividend by an average of 12.0% annually over the last three years and has raised its dividend every year for the last 24 years. Target has a payout ratio of 43.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Target to earn $9.32 per share next year, which means the company should continue to be able to cover its $4.48 annual dividend with an expected future payout ratio of 48.1%.

Target Price Performance

TGT stock opened at $131.29 on Monday. Target has a 12-month low of $120.21 and a 12-month high of $181.86. The stock has a market capitalization of $60.16 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 2.04 and a beta of 1.15. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $135.22 and its two-hundred day moving average price is $143.80.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter last year, the firm earned $2.10 EPS. The business’s revenue was up .9% on a year-over-year basis. As a group, equities analysts predict that Target will post 8.69 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on TGT shares. Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Stifel Nicolaus raised their target price on shares of Target from $137.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Bank of America dropped their price target on Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Roth Mkm reduced their price objective on Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Finally, Piper Sandler cut their target price on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $157.70.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.